Ab Minnesota Correlations

AMNAX Fund

USD 9.61 0.01 0.10%

The current 90-days correlation between Ab Minnesota Portfolio and Franklin Minnesota Tax Free is 0.18 (i.e., Average diversification). The correlation of Ab Minnesota is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Ab Minnesota Correlation With Market

Average diversification

The correlation between Ab Minnesota Portfolio and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ab Minnesota Portfolio and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ab Minnesota Portfolio. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with AMNAX Mutual Fund

0.93	AMNCX	Ab Minnesota Portfolio	Pair Corr
0.9	ANAZX	Ab Global Bond	Pair Corr
0.83	ANAYX	Ab Global Bond	Pair Corr
0.91	ANAGX	Ab Global Bond	Pair Corr
0.89	ANAIX	Ab Global Bond	Pair Corr
0.87	ANACX	Ab Global Bond	Pair Corr
0.83	ANBIX	Ab Bond Inflation	Pair Corr
0.96	ANIAX	New York Municipal	Pair Corr
0.91	ANJAX	Ab New Jersey	Pair Corr
0.99	ANJCX	Ab New Jersey	Pair Corr
0.96	ANIYX	New York Municipal	Pair Corr
0.98	ANMCX	New York Municipal	Pair Corr
0.91	ANYCX	Ab New York	Pair Corr
0.88	STHAX	Ab Sustainable Thematic	Pair Corr
0.89	STHYX	Ab Sustainable Thematic	Pair Corr
0.99	AOHAX	Ab Ohio Portfolio	Pair Corr
0.99	AOHCX	Ab Ohio Portfolio	Pair Corr
0.86	APAAX	Ab Pennsylvania Portfolio	Pair Corr
0.89	APACX	Ab Pennsylvania Portfolio	Pair Corr

Moving against AMNAX Mutual Fund

0.45	SCAVX	Ab Small Cap	Pair Corr
0.44	SCCVX	Ab Small Cap	Pair Corr
0.45	SCYVX	Ab Small Cap	Pair Corr
0.42	APGAX	Ab Large Cap	Pair Corr
0.4	APGZX	Ab Large Cap	Pair Corr
0.4	APGYX	Ab Large Cap	Pair Corr
0.39	APGCX	Ab Large Cap	Pair Corr
0.37	ASCLX	Ab Select Longshort	Pair Corr
0.37	ASILX	Ab Select Longshort	Pair Corr
0.34	SCRSX	Small Cap Core	Pair Corr
0.34	SCRYX	Small Cap Core	Pair Corr
0.34	SCRZX	Small Cap Core	Pair Corr

Related Correlations Analysis

	FKTDX	FMNIX	RMTCX	CLONX
FKTDX		1.0	0.99	0.99	FKTDX
FMNIX	1.0		1.0	0.99	FMNIX
RMTCX	0.99	1.0		0.99	RMTCX
CLONX	0.99	0.99	0.99		CLONX
	FKTDX	FMNIX	RMTCX	CLONX

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Risk-Adjusted Indicators

There is a big difference between AMNAX Mutual Fund performing well and Ab Minnesota Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Ab Minnesota's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FKTDX	0.16	0.01	(0.27)	0.04	0.26	(0.22)	0.35	(0.36)	1.52
FMNIX	0.16	0.00	(0.27)	0.07	0.27	(0.21)	0.27	(0.35)	1.50
RMTCX	0.17	0.01	(0.26)	0.03	0.30	(0.18)	0.35	(0.45)	1.83
CLONX	0.17	0.01	(0.25)	0.00	0.31	(0.19)	0.35	(0.46)	1.78

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